The desire to attain a competitive edge by cost effectively streamlining the business processes, has led to aggressive adoption of Business Process as a Service (BPaaS) solutions. BPaaS encompasses business process services for horizontal as well as vertical business processes through a feature-rich platform for delivering consistent business outcomes. The BPaaS solutions aim at automating the business processes, in order to create virtualized workplaces and easy accessibility with a few Information Technology (IT) resources and less IT infrastructure. As businesses realize the necessity for increasing the agility of business processes, along with cost control measures, they intend to deploy BPaaS solutions for greater flexibility, informed decisions, and accelerated performance along with simplified operations. These solutions help in increasing the transparency of a business operation, thus enhancing the effectiveness of a business process with other benefits including, meticulous process monitoring, scalability, simplified operations and accelerated performance. The BPaaS solutions support organizations across verticals to effectively create a network amongst employees, partners, distributors, suppliers and others in the business ecosphere and to deliver high value process outcomes. BPaaS redefines the traditional Business Process Outsourcing (BPO) solutions by blending it with cloud technology.

With globalization of markets, businesses across the globe are realizing the need of embracing cloud technology and business processes are also being moved to the cloud on account of inflexible service delivery models of traditional BPO and the old technologies that limit the effectiveness of business process outcomes. To increase the cost effectiveness of a process execution and to avoid vendor locking, BPaaS solutions are being adopted by enterprises across various verticals looking forward to breed the business process services into their current work scenarios. The Business Process Management (BPM) solutions are not just expected to break through the initial cautious approach, but are also being considered as a solution for gaining the competitive edge through cost effectiveness and consistency of business outcomes across all processes. In the BPaaS and Cloud BPM market report, MarketsandMarkets forecasts the revenues and analyzes the trends for business processes such as sales, finance and accounting, human resources, marketing and operations.

MarketsandMarkets segments the market for BPaaS and Cloud BPM solutions for each of the business process stated above by type of solutions into platform and services. Platforms refer to the application platform that the market players provide, onto which processes are built as per clients requirements. The services are associated with integration, collaboration and customization assistance that the service providers offer. The BPM solution vendors are partnering with cloud service providers, and leveraging on their partner channels for efficient delivery of these services.

The BPaaS and Cloud BPM market is segmented by type of service consumers into Small and Medium Businesses (SMBs) and enterprises; and by type of verticals into Banking, Financial Services and Insurance (BFSI), consumer goods and retail, communication and technology, government, healthcare, supply chain and manufacturing and other sectors. With the advent of cloud technology, organizations of all sizes are adopting BPaaS solutions to refine their business agility and to build cost effective business practices. The SMBs are rapidly adopting business process services to avail expertise and to employ the best industry practices. BPaaS offerings can also be divided on the basis of deployment model, depending on the environment that is used to set up the business process solution. The deployment models appertain to hosted and on-premise. The hosted type of deployment model means that the entire business process is on the cloud with very little human interference, meaning most of the process operation is automated. In the on-premise deployment model, the human intervention is more as compared to the hosted type.

The introduction of hosted deployment model has further accelerated the adoption of BPM solutions within the traditional process management framework as they considerably reduce upfront costs, give flexibility in business expansion, amongst other advantages. The report also analyzes the BPaaS and Cloud BPM market for the regions of North America (NA), Europe (EU), Asia-Pacific (APAC), Middle East and Africa (MEA), and Latin America (LA).

Business Process as a Service (BPaaS) and Cloud Business Process Management (BPM) solutions are fast gaining pace in the current business environment. These solutions bring in the economies of cloud computing technology and are positioned as flexible and scalable solutions which are focused on enhancing the value of business outcomes delivered by the efficient execution of business processes across all verticals and regions. BPaaS and Cloud BPM solutions bring various other benefits beyond cost effectiveness and ease of access anywhere anytime.

Business Process as a Service and Cloud BPM solutions blend traditional business process outsourcing (BPO) solutions with cloud computing technology to deliver value added business outcomes with few IT resources and less IT infrastructure. These solutions help in managing the fragmented businesses of an enterprise across the regions from a central node, while also ensuring flexibility, in terms of accessibility, deployment and scalability of the solutions. BPaaS is the outcome of evolution of cloud services, thereby enabling the automation of business processes to assure the consistency of business outcomes. Although the benchmarking criterion of Business Process as a Service and Cloud BPM solutions remains an ambiguity amongst organizations due to privacy, security and compliance concerns, enterprises are slowly realizing the benefits of these solutions. Global adoption trends and pervasiveness across most verticals are clear indications of a positive growth, as early adopters are already edifying the various advantages of this cloud service.

MarketsandMarkets expects an increasing uptake of these solutions across enterprises, while investments to improve business process agility gain prominence across the globe. Business process solutions are not just expected to break through the initial cautious approach, but are also being considered as a solution for gaining the competitive edge through cost effectiveness and consistency of business outcomes across all processes. MarketsandMarkets expects the BPaaS and Cloud BPM solutions market to grow from $1.09 billion in 2013 to $7.12 billion by 2018, at a CAGR of 45.55%.

BPAAS AND CLOUD BPM MARKET SIZE, 2013  2018 ($MILLION)

Source: MarketsandMarkets Analysis

Custom Market Research Services

We will customize the research for you, in case the report listed above does not
meet with your exact requirements. Our custom research will comprehensively cover
the business information you require to help you arrive at strategic and profitable
business decisions.